Reliance Infra’s Q2 operating revenue up 44 percentNovember 8th, 2011 - 8:58 pm ICT by IANS
Mumbai, Nov 8 (IANS) Reliance Infra, part of the Reliance Group, Tuesday reported a rise of 44 percent in its operating income for the quarter ended Sep 30, 2011 at Rs.5,729 crore from Rs.4,043 crore in the corresponding quarter of 2010-11.
Reliance Infra, one of the leading players in the infrastructure development and utility space, is working in areas like roads, metro rail, power transmission and distribution.
Revenues from its engineering, procurement and construction (EPC) business grew by a whooping 211 percent to Rs.2,212 crore in the quarter, the company said in a regulatory filing.
The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) also shot up by 40 percent in the quarter under review to Rs.828 crore.
Of the 11 road projects it was developing, four were already operational and another six would start generating revenue sometime in 2011-12, the company said.
The Hosur-Krishnagiri (Tamil Nadu) six-laning project, which is a part of Bangalore-Chennai golden quadrilateral, would also become operational in 2012-13.
“On track to start 10 road projects within FY12,” the company said in a statement.
For its power-distribution business, the company said that it was awarded distribution and transmission by Maharastra Electricity Regulatory Commission (MERC) for 25 years and has also approved the recovery of regulatory assets worth Rs.2,316 crore from consumers.
For its electricity distribution business in the national capital, the company said that Delhi Electricity Regulatory Commission (DERC) has approved tariff hike of 22 percent and introduction of quarterly fuel price adjustment surcharge as of Oct 1, 2011.
The company added that it signed retail area deals for 30,000 sq ft under its Reliance Metro Airport link in the national capital.
On a consolidated basis, the company’s net worth was valued at Rs 24,419 crore ($5 billion) as on Sep 30.
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